Derek Davis Keeps California Cannabis Clients Informed

Portrait of Derek Davis
Davis

Word to the wise: Have a partner.

By Liz Gold
cannabizcpa.pro

If you’re on the email list of California Cannabis CPA, expect to receive a weekly roundup of cannabis licensing deadlines, requirements and more from around the state.

MORE ON CANNABIZ: Corporate to Cannabis: Laura Durham of Kind Accounting | The Fire Starter: Groundbreaking Cannabis CPA Luigi Zamarra | CPA Marcena Sorrels: From Health Care in Texas to Cannabis in Oregon | SURVEY: N.J. CPAs Support Recreational Cannabis | CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | A CPA’s Unexpected Journey into the Cannabis Industry | Billion-Dollar Questions: Cannabis FAQ for Accountants | Pioneering Cannabiz CPA Warns: Tread Softly
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It’s a way founder Derek Davis, CPA, not only stays in front of his clients, prospects and community but provides them with information they should know as the industry unfolds in California.
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Corporate to Cannabis: Laura Durham of Kind Accounting

Portrait of Laura Durham
Durham

Required of clients: a legal bank account or detailed cash logs.

By Liz Gold
cannabizcpa.pro

A proponent of marijuana since college, Laura Durham, CPA, went into private industry after a stint at Arthur Andersen. She worked at a beef company, a software company and later at a manufacturing company.

MORE ON CANNABIZ: The Fire Starter: Groundbreaking Cannabis CPA Luigi Zamarra | Commercial Medical Marijuana Use Comes to Michigan | CPA John Dillinger on California’s Prop 64 | CPA Andrew Hunzicker Creates Course in Cannabiz Accounting | Cannabiz CPA: Dani Espinda Chooses Option Number Three | The Two Crippling Compliance Issues for Cannabis Industry
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It was during this time the course of her life changed.
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The Fire Starter: Groundbreaking Cannabis CPA Luigi Zamarra

Portrait of Luigi Zamarra
Zamarra

"If they follow GAAP in their accounting systems, income taxes will bankrupt them."

By Liz Gold
cannabizcpa.pro

You might have seen Luigi Zamarra, CPA back in the first episode of Weed Wars, a 2011 Discovery Channel series about the day-to-day operations of Oakland, California’s Harborside Health Center. Zamarra played himself, the chief financial officer of the world’s largest medical cannabis dispensary.

MORE ON CANNABIZ:Commercial Medical Marijuana Use Comes to Michigan | Ben Condon on Launching a Cannabis CPA Firm: ‘The Opportunity Presented Itself’ | CPA Simone Cimiluca-Radzins Launches 'LinkedIn of Cannabis' | Jim Marty: Building a National CPA Firm for the Cannabis Industry | Jordan Cornelius: Guiding Cannabiz Clients through Minefields | Wayne Harding: From Tech Boom to Cannabis Boom

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It was during his tenure at Harborside that Zamarra noticed the cannabis industry was humming along without realizing the implications of IRS Code 280E. To bring the issue to light, he wrote an article in Kush Magazine warning those in the industry how he anticipated the code section being an issue.
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Commercial Medical Marijuana Use Comes to Michigan

Portrait of Kareyna Miller
Miller

CPA Kareyna Miller keeps up with the changing landscape.

By Liz Gold
cannabizcpa.pro

CPA Kareyna Miller has always had a connection to the cannabis industry.

MORE ON CANNABIZ: Ben Condon on Launching a Cannabis CPA Firm: ‘The Opportunity Presented Itself’ | CPA Marcena Sorrels: From Health Care in Texas to Cannabis in Oregon | SURVEY: N.J. CPAs Support Recreational Cannabis | CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | A CPA’s Unexpected Journey into the Cannabis Industry | Billion-Dollar Questions: Cannabis FAQ for Accountants
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Since 2009, she has been an activist and patient, but this past summer she put her traditional public accounting background to work for the industry, starting LC Solutions Michigan.
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Ben Condon on Launching a Cannabis CPA Firm: ‘The Opportunity Presented Itself’

Portrait of Ben Condon
Condon

A lot of client education is involved.

By Liz Gold
cannbizcpa.pro

Recently, I had the opportunity to attend an Oregon Cannabis Industry Meetup group in Portland. It’s a networking event for cannabis professionals and businesspeople who want to mix and mingle. After the speaker, an “open mic” for businesses is held, at which individuals have a minute to give an elevator pitch about their cannabusiness.

MORE ON CANNABIZ: CPA Marcena Sorrels: From Health Care in Texas to Cannabis in Oregon | CPA John Dillinger on California’s Prop 64 | CPA Andrew Hunzicker Creates Course in Cannabiz Accounting | Cannabiz CPA: Dani Espinda Chooses Option Number Three

More at CPA Trendlines' cannbizcpa.pro

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That’s how I met Ben Condon – he got up and talked about his CPA firm, BC Consulting, LLC, which he describes as a small boutique niche CPA firm focused on the cannabis industry.
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CPA Marcena Sorrels: From Health Care in Texas to Cannabis in Oregon

It's not a field for the weak of heart, she says.

By Liz Gold
cannbizcpa.pro

CPA Marcena Sorrels dubs herself an “old timer” as it pertains to public accounting. She has a long history of management in the financial, regulatory and human resources arenas. She’s been a top executive in a number of healthcare companies in Texas. And she recently completed a tenure with a company at which she was both an owner and the CFO. That company sold for more than $37 million over two years ago.

Portrait of Marcena Sorrels
Sorrels

MORE on CANNABIS: Billion-Dollar Questions: Cannabis FAQ for Accountants  |  Cannabiz CPA: Dani Espinda Chooses Option Number Three  |  CPA John Dillinger on California’s Prop 64  |  Jim Marty: Building a National CPA Firm for the Cannabis Industry  |  Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry  |  CPA Andrew Hunzicker Creates Course in Cannabis Accounting  |  CPA Simone Cimiluca-Radzins Launches ‘LinkedIn of Cannabis’

Browse more at CPA Trendlines’ canabizcpa.pro

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“I was out of a job and had had my fill of health care,” Sorrels says. “At the same time our daughter moved to Oregon to open up a cannabis dispensary and my husband and I got interested. We ended up investing in the dispensary.”

From there, Sorrels says, she started thinking about putting her skills to work for the industry. She saw a need for good accounting and she had always loved helping and teaching business owners how to understand their financial information to improve their operations. So, she packed up her life in Texas and headed out to the Pacific Northwest.

And that’s how 420 Financial Strategies was born.

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CPA John Dillinger on California’s Prop 64

Portrait of John Dillinger
Dillinger

He's been aiming for this day since 1980.

By Liz Gold
Cannabizcpa.pro

As recreational cannabis becomes legal in California this month, the cannabis community is getting prepared for what’s to come.

MORE ON CANNABIZ: CPA Simone Cimiluca-Radzins Launches 'LinkedIn of Cannabis' | SURVEY: N.J. CPAs Support Recreational Cannabis | CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | A CPA’s Unexpected Journey into the Cannabis Industry
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John Dillinger, CPA, CGMA, PFS, is a former IRS agent in Oakland who, after leaving the IRS to manage at a local CPA firm in 2007, found himself working with clients in the medical marijuana industry. Fast forward to today and Dillinger has struck out on his own with two offices in Burlingame and Palm Springs and is ready to help cannabusinesses launch and stay competitive in the booming market.
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